One day after the PM appeared to throw his support behind the development of a new coal plant for Australia – to shore up the nation’s “continuous power sources” – AGL Energy CEO Andy Vesey has delivered a couple of energy market home truths and clarifications: renewables will be the only source of new baseload energy in Australia, and coal cannot compete.
In the opening address at Australian Energy Week in Melbourne on Wednesday, Vesey said
“What’s the new baseload for us? It’s going to be large-scale renewables. It’ll be firmed up by probably open-cycle gas and, eventually, when storage comes down, that’s what it will be.”
“We don’t see anything baseload other than renewables,”
— AGL Energy CEO
Full story at RenewEconomy: http://reneweconomy.com.au/agl-says-only-renewables-will-provide-new-baseload-not-coal-85724/